I do agree about the warning signs regarding lower lows and lower highs. However, compared to the other indexes, $RUT looks pretty good! $RVX has not even touched its 200 day moving average.
I am expecting the triangle to resolve tomorrow. I have no idea which way it resolves, but the $VIX suggests that equities could go up. I did say that yesterday, too. I was at least half-right.
If the RSI on the VIX closes tomorrow at 50 or so, I think that trendline I have (badly) drawn gets broken. What does that mean? It means no P3 before opex. In my opinion, of course.
TNA closed up 0.5% today, after falling below the low of yesterday.
After two days in a row with higher highs and higher lows, today had a lower high and a lower low. Small amounts, but lower is lower. To me, that is a negative sign.
Volume today for TNA was normal.
We are in a Full Moon Trade, generally positive for TNA. [ After nine days, the trade is DOWN 6.5% ]
Tony (man has no last name) says this Full Moon bullishness is canceled out by the Jan 15th Solar Eclipse, creating a Panic Cycle. His Panic Cycle seems played out, but runs until Feb 14th.
RVX (VIX for RUT) ran up early then fell all day.
Based on the slightly lower low and slightly lower high today, TNA for tomorrow is not attractive, long or short.
See VIX chart in other comment.
And also:
http://www.screencast.com/users/dreadwin/folder…
I do agree about the warning signs regarding lower lows and lower highs. However, compared to the other indexes, $RUT looks pretty good! $RVX has not even touched its 200 day moving average.
I am expecting the triangle to resolve tomorrow. I have no idea which way it resolves, but the $VIX suggests that equities could go up. I did say that yesterday, too. I was at least half-right.
The VIX still looks bearish to me. At least for tomorrow. Will it bounce? If it is going to do it, it has to do it soon. Really soon.
http://www.screencast.com/users/dreadwin/folder…
If the RSI on the VIX closes tomorrow at 50 or so, I think that trendline I have (badly) drawn gets broken. What does that mean? It means no P3 before opex. In my opinion, of course.
I'll have tonight's post up hopefully by 10pm est., with lot's of charts… and then you can decide which direction we're going?
currency trader Jason Jankolvky (?sp) on forex tv states that the highest reading ever for short Euro positions ever recorded.
He thinks the top in the dollar is in.
If the Euro rallies strongly then this indicates that stock rally.
BUT, can't they wait a couple of days?
Gcocks,
TZA is starting to look interesting again. If I can get the closing price ($10.92), I'll pick up some after hours.
Earl, Nice update thanks, Sold half my TZA this morning. Actually got stopped out with profit. Then bought a smaller position this afternoon.
TNA closed up 0.5% today, after falling below the low of yesterday.
After two days in a row with higher highs and higher lows, today had a lower high and a lower low. Small amounts, but lower is lower. To me, that is a negative sign.
Volume today for TNA was normal.
We are in a Full Moon Trade, generally positive for TNA.
[ After nine days, the trade is DOWN 6.5% ]
Tony (man has no last name) says this Full Moon bullishness is canceled out by the Jan 15th Solar Eclipse, creating a Panic Cycle. His Panic Cycle seems played out, but runs until Feb 14th.
RVX (VIX for RUT) ran up early then fell all day.
Based on the slightly lower low and slightly lower high today, TNA for tomorrow is not attractive, long or short.
Don't count on the Iranians bombing us though! Might not happen 🙂
Yes Monica,
I believe it will come tomorrow. Hang on!
Hi Red, it may not happen today but I think it will happen. Hopefully before our options expire worthless!